Director/PDMR Shareholding

RNS Number : 9373T

Diversified Energy Company PLC

23 March 2023

 

23 March 2023

Diversified Energy Company PLC

("Diversified," or the "Company")

Director / PDMR Shareholdings

Diversified Energy Company PLC (LSE: DEC) announces the acquisition of Ordinary Shares of £0.01 each in the Company ("Ordinary Shares") by certain members of Diversified's Board of Directors ("the Board") and the vesting of certain Performance Share Units ("PSUs") and Restricted Stock Units ("RSUs") previously awarded to Persons Discharging Material Responsibility ("PDMRs").

Acquisition of Ordinary Shares by Members of the Board

On 21 March 2023, Sandra Stash, Independent Non-Executive Director of the Board acquired 10,000 Ordinary Shares at an average price of 94.80 pence per Ordinary Share. Following this purchase, Mrs. Stash is now interested in 34,181 Ordinary Shares representing approximately 0.004% of the Company's issued share capital.

On 21 March 2023, David Turner, Independent Non-Executive Director of the Board acquired 160,000 Ordinary Shares through the open market at an average price of 94.69 pence per Ordinary Share. Following this purchase, Mr. Turner is now interested in 538,475 Ordinary Shares representing approximately 0.055% of the Company's issued share capital.

On 22 March 2023, Martin Thomas, Independent Non-Executive Vice Chair of the Board acquired 14,000 Ordinary Shares through the open market at an average price of 94.55 pence per Ordinary Share. Following this purchase, Mr. Thomas is now interested in 2,220,000 Ordinary Shares representing approximately 0.229% of the Company's issued share capital.

Vesting of PSUs and RSUs

Members of the Company's senior management vested in previously awarded PSUs and RSUs as set out below:

• Rusty Hutson, Jr, Executive Director, President and Chief Executive Officer

• Bradley Gray, Executive Director, Executive Vice President and Chief Operating Officer

• Eric Williams, Executive Vice President and Chief Financial Officer

• Jim Rode, Executive Vice President and Chief Commercial Officer

• Benjamin Sullivan, Executive Vice President, General Counsel and Company Secretary

Mr. Hutson and Mr. Gray's listed awards were solely PSU's, while the awards to Mr. Williams, Mr. Rode, and Mr. Sullivan included a mix PSU's and RSU's. The Company provides additional information about its 2020 long-term incentive plan program within the its Annual Report for the year ended 31 December 2022 available on its website.

To settle the awards, the Company will transfer Ordinary Shares (net of customary withholdings, including taxes) from its Employee Benefit Trust (the "EBT") as set forth in the table below:

	Net Award	Shares Held Post-Award	% of Issued Share Capital
Rusty Hutson, Jr	1,696,889	23,902,890	2.46%
Bradley Gray	774,153	3,168,935	0.33%
Eric Williams	414,220	982,734	0.10%
Jim Rode	416,224	1,144,474	0.12%
Benjamin Sullivan	316,161	556,718	0.06%

For further information, please contact:

Diversified Energy Company PLC	[phone]
Doug Kris	[e-mail]
www.div.energy
FTI Consulting	[e-mail]
U.S. & UK Financial Public Relations

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rusty Hutson, Jr
2	Reason for the notification
a)	Position/status	Executive Director, President and Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Bonus award of performance share units constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of performance share units units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	1,696,889
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 March 2023
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bradley Gray
2	Reason for the notification
a)	Position/status	Executive Director, Executive Vice President and Chief Operating Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Bonus award of performance share units constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of performance share units units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	774,153
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 March 2023
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Eric Williams
2	Reason for the notification
a)	Position/status	Executive Vice President and Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of performance share units and restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	414,220
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 March 2023
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jim Rode
2	Reason for the notification
a)	Position/status	Executive Vice President and Chief Commercial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of performance share units and restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	416,224
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 March 2023
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Benjamin Sullivan
2	Reason for the notification
a)	Position/status	Executive Vice President, General Counsel and Company Secretary
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of performance share units and restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£Nil	316,161
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	20 March 2023
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sandra Stash
2	Reason for the notification
a)	Position/status	Independent Non-Executive Director of the Board
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.9480	10,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	21 March 2023
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Turner
2	Reason for the notification
a)	Position/status	Independent Non-Executive Director of the Board
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.9469	160,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	21 March 2023
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Martin Thomas
2	Reason for the notification
a)	Position/status	Independent Non-Executive Vice Chair of the Board
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company PLC
b)	LEI	213800YR9TFRVHPGOS67
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1 pence each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.9455	14,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	22 March 2023
f)	Place of the transaction	London Stock Exchange (XLON)

 

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